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Clariant completes sale of healthcare business

November 11/2019

MOSCOW (MRC) -- Specialty chemical company Clariant has completed the sale of its healthcare packaging business to Arsenal Capital Partners, a leading private equity firm investing in specialty industrials and healthcare companies, said the company.

The company will be rebranded as Airnov Healthcare Packaging (Airnov).

The business unit was sold for Swiss francs (Swfr) 308m (USD311m) , which is equivalent of 13.2 times adjusted for the fiscal year (FY) 2018 earnings before interest taxation depreciation and amortisation (EBITDA).

The initial signing to the US-based private equity firm took place on 22 July 2019, and this announcement comes in the wake of Clariants steady Q3 results.

Executive chairman Hariolf Kottmann said: "The divestment of the Healthcare Packaging business is the first step of our announced strategy to become a more focused and innovative specialty chemical company."

As MRC  informed earlier, Clariant announced that it has been awarded a contract by Dongguan Grand Resource Science & Technology Co. Ltd. to develop a new propane dehydrogenation unit in cooperation with CB&I. The Dongguan plant will be one of the largest single-train dehydrogenation units in the world. Clariant's technology partner CB&I will base the plant's design on its Catofin catalytic dehydrogenation technology, which uses Clariant's tailor-made Catofin catalyst and Heat Generating Material (HGM).

Propylene is the main feedstock for producing polyprolypele (PP).

According to MRC's ScanPlast report, the estimated consumption of PP in the Russian market totalled 694,210 tonnes in January-June 2019, up by 14% year on year. The supply of propylene block copolymers (PP-block) and propylene homopolymers (PP-homo) increased.

Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints. Clariant India has local masterbatch production activities at Rania, Kalol and Nandesari (Gujarat) and Vashere (Maharashtra) sites in India.
Author:Anna Larionova
Tags:petroleum products, PP, PE, Clariant International, Clariant Masterbatches.
Category:General News
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